EBIT ASSOCIATES ADVISED BRAINBITS, LLC. IN ITS SALE TO MPG EQUITY PARTNERS, LLC
CHICAGO – January 31, 2014 – EBIT Associates, a leading Illinois-registered, lower middlemarket investment bank and several accredited association member firms, announced today that it advised BrainBits, L.L.C. (“BrainBits”) in its sale to MPG Equity Partners, L.L.C. (“MPG Equity”), for an undisclosed amount in cash.
Headquartered in Springfield, Illinois and Loughborough, United Kingdom BrainBits (www.brainbitsllc.com) is a leading tissue provider to the medical and scientific research community in the field of neuroscience with specialties in preserving neuronal tissue using proprietary processes and media and providing chemical preparations and reagents. BrainBits is a global provider of mission critical research materials to leading pharmaceutical, laboratory, and neuroscience researchers.
MPG Equity (www.mpgequity.com) is a Chicago based privately funded family office that invests in healthcare, business, and consumer service companies, with a focus on niche manufacturing and value-added distribution. MPG Equity partners with management teams to increase value by accelerating revenue growth, both organically and through complimentary acquisitions. MPG Equity is a cash buyer looking for businesses with EBITDA of $1-5 million.
“We are pleased that MPG Equity and Michael Goy, who has visionary leadership and caliber with seasoned management, will take our company to the next level,” said Dr. Greg Brewer, President and Chief Executive Officer of BrainBits. “MPG Equity did everything they said they would do to ensure that the process moved quickly and to help me achieve my goals as a seller.”
“With a stellar reputation, a highly skilled team, specialized technology, and significant continued growth potential, BrainBits is a market leader as a supplier to the medical and scientific research community,” said Michael Goy, Managing Partner of MPG Equity. “We look forward to supporting management in building a larger company in the broader Clinical Research Organization sector.”
Dr. Greg Brewer added, “We were very impressed by the work that EBIT Associates performed on our behalf. They ran an excellent transaction process while maintaining the highest standards throughout. From a process and valuation perspective, the firm’s expertise, guidance and support served our goals especially well.
Todd Cushing, Principal of EBIT Associates, added, “It was a pleasure working with Dr Brewer, and the BrainBits team with their excellent niche products and services for medical research to find cures for better health for mankind globally.”